Extra Space Storage Rebounds 3.68% After 10.03% Plunge As Technicals Signal Pivotal Juncture

Extra Space Storage (EXR) rose 3.68% to close at $139.30 on August 1, 2025, recovering partially from the previous session's 10.03% decline that established a critical low of $134.36. This volatility marks a pivotal technical juncture requiring multidimensional analysis across key indicators.
Candlestick Theory
The July 31 bearish marubozu (open near high, close near low) signaled capitulation, creating a definitive swing low at $134.36. The subsequent August 1 bullish candle closed above the prior day's midpoint, forming a piercing pattern that implies potential reversal confirmation if sustained. Key resistance now crystallizes at $140.32 (August 1 high), while $134.36 constitutes a must-hold support level. The cluster around $148-152 from late July forms secondary resistance.
Moving Average Theory
All major moving averages exhibit bearish alignment, with the 50-day MA (~$150) crossing below both the 100-day (~$154) and 200-day (~$158) in July. The August 1 close remains decisively below these averages, confirming the dominant downtrend. Any recovery attempt would face layered resistance at each MA tier, while sustained trading below $140 reinforces bearish control.
MACD & KDJ Indicators
MACD maintains a bearish histogram below its signal line in negative territory, though the July 31 capitulation saw momentum divergence as price hit new lows without corresponding MACD lows. The KDJ oscillator entered oversold territory (K/D < 20) during the July sell-off, with the August 1 rebound triggering a bullish K/D crossover from extreme levels. This momentum inflection suggests waning downward pressure near-term.
Bollinger Bands
Bands widened aggressively during July’s breakdown, reflecting volatility expansion. Price tagged the lower band ($134) on July 31 before mean-reverting toward the 20-day SMA near $141. The Bollinger Band Width remains elevated historically, suggesting continued volatile price action. Sustained closes above the midline would signal stabilization.
Volume-Price Relationship
July 31’s breakdown occurred on the highest volume (4.36M shares) in the dataset, validating bearish momentum. The August 1 rebound volume (3.19M) was 27% lower than the preceding day’s sell-off, raising concerns about commitment to the recovery. Consistent volume expansion above the 30-day average (~1.2M) would be needed to confirm trend reversal.
Relative Strength Index (RSI)
The 14-day RSI plunged to 24 on July 31, entering oversold territory for the first time since April 2025. Its subsequent bounce to 38 remains below the neutral 50 level. While the oversold reading signaled exhaustion, the indicator has not yet confirmed bullish momentum. A rise above 50 would strengthen reversal prospects, with prior swing lows providing positive divergence signals.
Fibonacci Retracement
Drawing Fibonacci levels from the September 2024 high ($185) to the July 2025 low ($134.36) reveals critical thresholds: The 23.6% retracement ($146.25) aligns with the July congestion zone, while the 38.2% level ($153.50) converges with multiple moving averages. These confluent resistance levels would require significant volume-backed momentum to overcome. The shallow 10% rebound so far suggests limited recovery strength.
Confluence and Divergence Observations
Multiple indicators align at $134-140: oversold KDJ/MACD readings, Bollinger lower band touch, and candlestick reversal patterns concur near support. However, bearish volume divergence on the rebound and resistance clustering near $146-153 create headwinds. Notable positive divergence exists between July’s lower price low and higher RSI/MACD lows versus April, suggesting weakening downside momentum. The technical structure implies tactical rebound potential within a broader downtrend, with sustained progress above $146 needed to challenge the dominant bearish structure. Failure to hold $134 would signal trend acceleration.